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Section 3: Budgeted Financial Statements
Budget statement of revenues and expenses
This statement provides a picture of the expected financial results for the Department of the Treasury by identifying expenses and revenues on an accrual basis, which highlights whether the Department is operating at a sustainable level.
Budget statement of assets and liabilities
This statement shows the financial position of the Department. It enables decision-makers to track the management of Departmental and Administered assets and liabilities.
Budget cash flow statement
This statement identifies expected cash flows from departmental and administered operating activities, investing activities and financing activities.
Capital budget statement
This statement shows all proposed capital expenditure for departmental and administered items funded either through capital appropriations or from internal sources.
Table 3.2: Budget statement of assets and liabilities (Administered)
Table 3.3: Budget cash flow (Administered)
Table 3.4: Capital budget statement
Notes to the financial statements
Basis of accounting
The Department of the Treasury's budget statements are prepared in compliance with Australian Accounting Standards, Accounting Guidance Releases and having regard to Statements of Accounting Concepts.
Under the Commonwealth's accrual budgeting framework, and consistent with Australian Accounting Standards, transactions that agencies control (departmental transactions) are separately budgeted for and reported on from transactions agencies do not have control over (administered transactions). This ensures that agencies are only held accountable for the transactions over which they have control.
Departmental
Departmental assets, liabilities, revenues and expenses in relation to an agency are those which are controlled by the agency. Departmental expenses included employee and supplier expenses and other administrative costs that are incurred by the agency in providing its goods and services.
There are no substantial variations to the notes outlined in the 2000-01 Portfolio Budget Statements and The Treasury Annual Report 1999-2000.
Administered
Administered items are revenues, expenses, assets or liabilities which are managed by an agency on behalf of the Government according to set Government directions. Administered expenses include subsidies, grants, and personal benefit payments and administered revenues include taxes, fees, fines and excises.
There are no substantial variations to the notes outlined in the 2000-01 Portfolio Budget Statements and The Treasury Annual Report 1999-2000.
Appendix 1
Appendix 2
